I completed & e-filed my 2021 taxes. I had taxable unemployment income, and a tax liability of roughly $3k due. I was right about to pay the $3k via EFTPS, but before doing so, I found out about the changes in the American Rescue Plan Act that exempt the first $10k of unemployment from taxation - which should translate to a roughly $1000 reduction in my tax due. Many articles (i.e. https://www.journalofaccountancy.com/news/2021/apr/automatic-irs-refund-tax-mistakenly-paid-on-unemp...) say not to file an amended return, just wait & the IRS should automatically credit you for the difference. However, I'm in a bit of an odd place as I've already *filed,* but not yet *paid.* Should I:
* Try to figure my new liability, and pay that amount - i.e. $2k? However, I can't think of any way to determine exactly how they'll handle this, & thus the precise amount they'll want - and my concern is if they calculate a slightly different amount than me, I don't want to get penalized. Or worse, if they just see that my return says I owe $3k but I pay $2k, it will be flagged.
* Pay the full $3k anyway, and the IRS will eventually send me back the $1k? It seems a bit unnecessary to give them a free $1000 loan though, especially considering I *know* that doing so would be overpaying, & I have o way of knowing how long it'll actually take them to get around to the refund.
* Another option?
It's a bit absurd that they changed this a month before taxes were due. If I'd not yet filed or paid, it'd be obvious what to do. If I'd both filed & paid, I could only wait. But given I've filed but not yet paid...not really sure if there's a way I can avoid knowingly overpaying & handing over $1k needlessly, for an indeterminate period of time.
